Archer Daniels Midland management check
ADM · Consumer Staples · Agricultural Products & Services · CEO Juan Luciano
Filings as of
2 good · 2 to watch · 2 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $131, against $214 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.67 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
2.2% of net income$23.9m of reported pay in fiscal 2025, against $1.1bn of net income.
- n/a
Do they own the stock?
No recent CEO filingNo open-market insider buying or selling in the last six months.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -5.5% a year over the last three fiscal years. Stock-based pay was 0.3% of revenue in the latest year.
- Watch
Is leadership stable?
11 leadership filings in 3 yearsCEO in the pay table: Juan Luciano. 11 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Flag
Are the books clean?
Red flags on file1 restatement notice (8-K 4.02), 2 late-filing notices since 2021. 1 amended annual report.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Staples.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 2 | 31 | |
| Pay for performance | 84 | 84 | |
| CEO cost | 21 | 40 | |
| Skin in the game | — | — | 65 |
| Dilution | 100 | 60 | |
| Stable leadership | 70 | 70 | |
| Clean books | 0 | 100 |
Closest peers
Others in Agricultural Products & Services, by management score. Archer Daniels Midland is 28th of 33 in its sector.
- 255BGBunge Global64
- 451ADMArcher Daniels Midland46
- 454KHCKraft Heinz45
- 466TSNTyson Foods41
- 468ELEstée Lauder Companies (The)41
- 473MKCMcCormick & Company38
Pay versus performance
From the proxy statement filed March 26, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Juan Luciano | $23.9m | $10.7m | $6.6m | $131 | $214 | $1.1bn |
| 2024 | — | $21.6m | −$13.2m | $6.3m | $111 | $178 | $1.8bn |
| 2023 | — | $24.4m | −$271k | $5.5m | $153 | $136 | $3.5bn |
| 2022 | — | $24.7m | $65.7m | $5.9m | $192 | $102 | $4.3bn |
| 2021 | — | $23.5m | $60.1m | $6.1m | $137 | $129 | $2.7bn |
The board says pay is tied most to Adjusted ROIC. Its other key measures: Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), Adjusted earnings per share (EPS).
Insiders and the CEO's stake
No open-market insider buying or selling in the last six months.
Leadership and governance on file
- Aug 12, 2026Leadership change8-K 5.02
- Jul 23, 2026Leadership change8-K 5.02
- May 12, 2026Leadership change8-K 5.02
- Mar 10, 2026Leadership change8-K 5.02
- Jan 29, 2025Leadership change8-K 5.02
- Nov 18, 2024Annual report amended10-K/A
- Nov 12, 2024Late filing noticeNT 10-Q
- Nov 6, 2024Leadership change8-K 5.02
- Nov 5, 2024Restatement notice8-K 4.02
- Jul 10, 2024Leadership change8-K 5.02
- Apr 22, 2024Leadership change8-K 5.02
- Mar 20, 2024Leadership change8-K 5.02
Latest shareholder vote results: May 12, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $11.1bn returned to owners in buybacks and dividends, 83% of net income, and $577.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $85.2bn | $27.6bn | $25.7bn | $24.4bn | $25.0bn |
| Net income | $2.7bn | $4.3bn | $3.5bn | $1.8bn | $1.1bn |
| Stock-based pay | $161.0m | $147.0m | $112.0m | $74.0m | $83.0m |
| Buybacks | $0 | $1.4bn | $2.7bn | $2.3bn | $0 |
| Dividends | $834.0m | $899.0m | $977.0m | $985.0m | $987.0m |
| Diluted shares | 566m | 563m | 542m | 493m | 484m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.